Stock analysts at Zacks Research began coverage on shares of Aeluma (NASDAQ:ALMU – Get Free Report) in a research report issued to clients and investors on Tuesday, Zacks reports. The brokerage set a “hold” rating on the stock.
Other research analysts also recently issued research reports about the stock. Freedom Broker cut their target price on shares of Aeluma from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, September 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research note on Thursday, October 15th. Finally, Northland Securities began coverage on shares of Aeluma in a report on Monday. They set an “outperform” rating and a $16.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Aeluma currently has an average rating of “Moderate Buy” and a consensus price target of $22.75.
Check Out Our Latest Stock Report on Aeluma
Aeluma Price Performance
NASDAQ ALMU opened at $7.26 on Tuesday. Aeluma has a fifty-two week low of $6.59 and a fifty-two week high of $31.79. The business has a fifty day moving average of $11.17 and a 200-day moving average of $16.42.
Aeluma (NASDAQ:ALMU – Get Free Report) last issued its quarterly earnings data on Wednesday, September 16th. The company reported ($0.15) earnings per share (EPS) for the quarter. The company had revenue of $0.58 million during the quarter. Aeluma had a negative net margin of 205.31% and a negative return on equity of 18.14%. Sell-side analysts forecast that Aeluma will post -0.57 EPS for the current year.
Insider Activity
In other Aeluma news, Director Steven Denbaars sold 12,500 shares of Aeluma stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $13.84, for a total value of $173,000.00. Following the completion of the sale, the director owned 357,709 shares in the company, valued at $4,950,692.56. The trade was a 3.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jonathan Klamkin sold 100,000 shares of the company’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $10.53, for a total transaction of $1,053,000.00. Following the transaction, the chief executive officer directly owned 1,126,995 shares of the company’s stock, valued at approximately $11,867,257.35. This represents a 8.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 212,500 shares of company stock worth $2,561,000 over the last quarter. 12.78% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of ALMU. Westside Investment Management Inc. increased its position in Aeluma by 14.9% during the third quarter. Westside Investment Management Inc. now owns 60,425 shares of the company’s stock worth $747,000 after purchasing an additional 7,850 shares during the last quarter. Wedbush Securities Inc. raised its stake in Aeluma by 586.0% during the third quarter. Wedbush Securities Inc. now owns 352,775 shares of the company’s stock worth $4,360,000 after purchasing an additional 301,350 shares during the period. Secure Asset Management LLC acquired a new position in shares of Aeluma in the 3rd quarter valued at $136,000. Squarepoint Ops LLC acquired a new position in shares of Aeluma in the 2nd quarter valued at $269,000. Finally, Fortitude Advisory Group L.L.C. boosted its holdings in shares of Aeluma by 6.0% in the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 37,567 shares of the company’s stock valued at $829,000 after purchasing an additional 2,132 shares during the last quarter.
Aeluma Company Profile
Aeluma, Inc is a semiconductor company developing technologies designed to manufacture high-performance compound semiconductor devices on large-diameter silicon substrates. Its approach is intended to combine the performance characteristics of compound semiconductors with the scalability and manufacturing infrastructure associated with silicon wafers.
The company’s technology is applicable to products such as photodetectors, light-emitting devices, laser components and other optoelectronic devices.
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